PORTLAND — Zoom+Care and Endeavour Capital had declared war and were about to engage in what could have been a protracted and bloody courtroom battle.
But then calmer minds prevailed.
The Portland-based chain of health clinics and its largest investor settled their differences Wednesday. Endeavour dropped the breach of contract lawsuit it filed last week and agreed to invest another $24 million in Zoom.
“We’ve been able to come to terms,” said Stephen Babson, of Endeavour. “We looked at what would be gained by going to court. I think everyone recognized this wasn’t the most productive route.”
“The important thing is they’re investing in the company and the current management team,” said Len Bergstein, a spokesman for Zoom.
The settlement solves one of Endeavour’s major issues: the deadlock on the company’s board of directors. Marty Barrick has agreed to become Zoom’s fifth director, joining the two Endeavour representatives and two Zoom officers.